Popa Federal Credit Union Mortgage Rates, Fees & Info

Cerritos, CA

LEI: 2549005B0YP23JCTYV51

Tax ID: 95-3432640

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Mortgage Data

Review & Overview

Popa Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Popa Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, and Bakersfield among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Popa Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Refi 5.55% 3/29/24
30 Year Cash-out Refi 5.66% 3/29/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Popa Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Popa Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

155

Origination Dollar Volume (All Markets)

$16,155,000

Relative Rate

Popa Federal Credit Union's average 30 year fixed mortgage rate was 5%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -1.48%.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 109 $12,245,000 $112,339 $0 8.62%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 41 $3,595,000 $87,683 $0 8.91%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $170,000 $85,000 $0 9.88%
BAKERSFIELD, CA (FHA|USDA|VA) 3 $145,000 $48,333 $0 9.50%
Popa Federal Credit Union's top markets include Los Angeles, Riverside, Oxnard, and Bakersfield among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against POPA FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    LBS FINANCIAL
    Similarity Rank: 258
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    ALTURA
    Similarity Rank: 560
    LA Financial Federal Credit Union
    Similarity Rank: 660
    FRONTWAVE
    Similarity Rank: 660
    I.L.W.U. CREDIT UNION
    Similarity Rank: 680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 108 $9,920,000 $91,852 $0 8.86%
    HELOC 47 $6,235,000 $132,660 n/a 8.44%

    For 2023, Popa Federal Credit Union's most frequently originated type of loan was Conventional, with 108 originations. Their 2nd most popular type was HELOC, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 119 $11,945,000 $100,378 $0 8.77%
    Other 32 $3,490,000 $109,063 $0 8.73%
    Home Purchase 2 $340,000 $170,000 $0 9.50%
    Refi 2 $380,000 $190,000 $0 6.00%

    For 2023, Popa Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 119 originations. The 2nd most popular reason was Other, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 72 $7,010,000 $97,361 $0 9.19%
    15 Year 51 $6,535,000 $128,137 $0 8.52%
    10 Year 29 $2,225,000 $76,724 $0 8.13%
    30 Year 1 $335,000 $335,000 $0 5.00%
    5 Year 1 $15,000 $15,000 $0 8.00%
    Other 1 $35,000 $35,000 $0 8.25%

    For 2023, Popa Federal Credit Union's most frequently cited loan duration was 20 Year, with 72 originations. The 2nd most popular length was 15 Year, with 51 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 113 $11,765,000 $104,115
    7-8% 36 $3,660,000 $101,667
    6-7% 5 $395,000 $79,000
    4-5% 1 $335,000 $335,000

    During 2023, Popa Federal Credit Union's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was Over 8%, with 113 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 85 $5,225,000 $61,471 $0 8.79%
    $100k-200k 51 $6,455,000 $126,569 $0 8.69%
    $200k-400k 19 $4,475,000 $235,526 $0 8.58%

    2023 saw Popa Federal Credit Union place emphasis on $100,000 or less loans with 85 originations, totaling $5,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 61 $7,205,000 $118,115 $0 8.77%
    $100k-150k 59 $5,325,000 $90,254 $0 8.81%
    $75k-100k 17 $1,935,000 $113,824 $0 8.37%
    $250k+ 9 $1,155,000 $128,333 $0 8.61%
    $50k-75k 5 $335,000 $67,000 $0 9.15%
    $50k or less 4 $200,000 $50,000 $0 8.31%

    Popa Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 61 originations. The second most popular income band? $100k-150k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 23 $2,545,000 $110,652 $0 8.66%
    50-60% 18 $1,370,000 $76,111 $0 8.93%
    20-30% 16 $2,290,000 $143,125 $0 8.61%
    49% 11 $755,000 $68,636 $0 8.75%
    44% 11 $905,000 $82,273 $0 8.86%
    39% 10 $880,000 $88,000 $0 8.50%
    42% 9 $1,005,000 $111,667 $0 8.64%
    41% 9 $1,135,000 $126,111 $0 8.86%
    43% 8 $650,000 $81,250 $0 8.84%
    46% 8 $750,000 $93,750 $0 9.31%
    36% 6 $930,000 $155,000 $0 8.58%
    <20% 5 $1,045,000 $209,000 $0 7.65%
    45% 5 $535,000 $107,000 $0 8.50%
    47% 4 $220,000 $55,000 $0 8.50%
    48% 4 $340,000 $85,000 $0 9.13%
    37% 4 $470,000 $117,500 $0 8.94%
    38% 2 $270,000 $135,000 $0 8.75%
    40% 2 $60,000 $30,000 $0 9.13%

    Popa Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 23 originations. The next most common DTI ratio? 50-60%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $8,125,000 $102,848 $0 8.67%
    Not provided 44 $4,470,000 $101,591 $0 8.86%
    Black 20 $2,030,000 $101,500 $0 8.84%
    Asian 8 $980,000 $122,500 $0 8.25%
    Samoan 1 $205,000 $205,000 $0 8.25%
    Native Hawaiian 1 $155,000 $155,000 $0 8.25%
    American Indian 1 $155,000 $155,000 $0 10.50%
    Japanese 1 $35,000 $35,000 $0 9.25%

    Approval Rates

    Total approvals of all applications
    76.10%

    Popa Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.00%

    Popa Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    3315.0 1 $335,000 $335,000
    NA 154 $15,820,000 $102,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    155 $16,155,000 $104,226

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $5,005,000 $200,200 $0 8.95%
    40-60% 1 $205,000 $205,000 $0 9.50%
    60-80% 1 $335,000 $335,000 $0 5.00%
    Under 20% 128 $10,610,000 $82,891 $0 8.71%